Navistar International Corp. (NAV) Shares Up 4.8%
Shares of Navistar International Corp. (NYSE:NAV) shot up 4.8% on Tuesday . The company traded as high as $20.57 and last traded at $20.56, with a volume of 564,125 shares. The stock had previously closed at $19.62.
A number of research firms have weighed in on NAV. Seaport Global Securities raised their price objective on shares of Navistar International Corp. from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, September 7th. Avondale Partners reissued a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Navistar International Corp. in a report on Wednesday, June 15th. Citigroup Inc. cut shares of Navistar International Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 8th. Macquarie cut shares of Navistar International Corp. from a “neutral” rating to an “underperform” rating and set a $15.00 price objective on the stock. in a report on Tuesday, September 6th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Navistar International Corp. in a report on Wednesday, June 8th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.94.
The stock has a 50-day moving average of $15.14 and a 200-day moving average of $13.06. The stock’s market capitalization is $1.69 billion.
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Navistar International Corp. (NYSE:NAV) last posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.57. The company earned $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. The company’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.37) earnings per share. On average, analysts forecast that Navistar International Corp. will post ($0.45) earnings per share for the current fiscal year.
In related news, Director Michael N. Hammes sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $18.71, for a total transaction of $74,840.00. Following the sale, the director now directly owns 5,261 shares of the company’s stock, valued at approximately $98,433.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Navistar International Corp. by 93.8% in the first quarter. BlackRock Inc. now owns 11,033 shares of the company’s stock valued at $138,000 after buying an additional 5,339 shares in the last quarter. Creative Planning raised its stake in shares of Navistar International Corp. by 11.4% in the second quarter. Creative Planning now owns 13,156 shares of the company’s stock valued at $154,000 after buying an additional 1,350 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Navistar International Corp. by 25.5% in the second quarter. BNP Paribas Arbitrage SA now owns 13,365 shares of the company’s stock valued at $156,000 after buying an additional 2,712 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Navistar International Corp. during the first quarter valued at $165,000. Finally, State of Tennessee Treasury Department bought a new stake in shares of Navistar International Corp. during the second quarter valued at $175,000.
About Navistar International Corp.
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a provider of service parts for trucks and diesel engines.
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